West Salem, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Salem, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

West Salem Housing Market Information

With a population of 1,487, 620 total housing units (homes and apartments), and a median house value of $134,650, house prices in West Salem are solidly below the national average.

Single-family detached homes are the single most common housing type in West Salem, accounting for 63.77% of the village's housing units. Other types of housing that are prevalent in West Salem include mobile homes or trailers ( 19.18%), duplexes, homes converted to apartments or other small apartment buildings ( 12.63%), and a few large apartment complexes or high rise apartments ( 3.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Salem. Owner-occupied housing accounts for 69.35% of West Salem's homes, and 54.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West Salem built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in West Salem built before 1939 ( 27.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.57%). There's also some housing in West Salem built between 2000 and later ( 8.37%).

West Salem Home Appreciation Rates

Real estate appreciation rates in West Salem's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

NeighborhoodScout's data show that during the latest twelve months, West Salem's appreciation rate, at 5.47%, has been at or slightly above the national average. In the latest quarter, West Salem's appreciation rate has been -0.60%, which annualizes to a rate of -2.39%.

Notably, West Salem's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that West Salem's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$134,650

West Salem, OH HOME PRICES

Value Range
> $1,133,000 1.7
$850,001 - $1,133,000 4.2
$567,001 - $850,000 1.1
$453,001 - $567,000 0.9
$340,001 - $453,000 3.1
$227,001 - $340,000 6.5
$113,001 - $227,000 40.5
$57,001 - $113,000 24.6
$0 - $57,000 17.5

Average for OH
Average for Nation

Value Relative to Nation Value Relative to State
57.3127856556897 49.4750656167979

Number Of Homes And Apartments:
620

West Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
3.37% 0.19% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$879 / per month

Homeownership Rate

Homeownership
Owners 69.35
Renters 30.65
Vacant 5.63

Housing Market Details

 

Age of Homes

AGE OF West Salem HOMES
2000 or Newer 8.4
1970 - 1999 38.8
1940 - 1969 25.6
1939 or Older 27.2

Types of Homes

TYPE OF West Salem HOMES
Single-Family 63.8
Townhomes 0.6
Small Apt. Buildings 12.6
Apt. Complexes 3.8
Mobile Homes 19.2
Other 0.0

Home Size

SIZE OF West Salem HOMES
No Bedroom 0.46
1 Bedroom 6.70
2 Bedrooms 33.33
3 Bedrooms 39.27
4 Bedrooms 15.07
5 or more bedrooms 5.18

Popular Neighborhoods in West Salem

Zip Codes in West Salem, OH